US - Texas Permanent School Fund has reportedly revealed plans to add up to US$2.6bn in absolute return funds of funds.
The $23.9bn billion fund will reportedly allocate the money gradually to one or more actively managed multistrategy, multimanager funds.
The decision was said to have been made following a new strategic asset allocation policy approved earlier this month by the state board of education.
The fund’s current asset allocation is 55% domestic equities, 25% fixed income and 20% international equities.
In a separate development, New York State Teachers’ Retirement System (NYSTRS) has decided to reduce its domestic equity target from 51% to 46% of assets, and boost its international equity target to 15% from 10%.
The PPF 7800 deficit was slashed in half last month as gilt yields rose. Victoria Ticha asks if this is the start of a longer trend
Frank Field is to warn Sir Philip Green not to sell his Arcadia business without ensuring defined benefit (DB) pensions are adequately protected, PP can confirm.
Some 79% of people would like to see stricter rules and checks to ensure pension pots are secure, according to a survey by the Pensions and Lifetime Savings Association (PLSA).
An analysis of IGC annual reports finds some lacking in information on value for money, costs and charges, and investment performance. James Phillips explores the findings